摘要：The fast development of Indonesia capital market has happened recently requires investors to manage more information which is available with variety of technical analysis.One of technical Springates model of bankruptcy prediction which is able to predict the possibility of bankruptcy for evading fortfolio depreciation held by the investors.In above-mentioned analysis, the investors use one set of financial ratio which has the same type profitability, leverage, and liquidity ratio.Logically, the investors who have used Springates ratio in their analysis will consider the set of ratio in selling and buying shares so Springates ratio have the influence to shares price.This reseach was done based on wanting to know the influence of Springates financial ratios to shares price of public enterprise of telecommunication sector in Indonesia Stock Exchange.This reseach is empirical study for getting to know the influence of Springates financial ratios to share price.The financial data which are used from report of public enterprise of telecommunication sector in Indonesia Stock Exchange are from the year 2009 up to 2013.The financial ratios which are independent variable used by Springate for predicting enterprise bankruptcy, i.e : Working Capital to Total Assets (WC/TA), Earnings Before Interest and Taxes to Total Assets (EBIT/TA), Earnings Before Taxes to Currents Liabilities (EBT/CL), and Sales to Total Assets (S/TA).The analysis instrument is panel data regression and for data processing using Eviews 7.t-test and F-test outcome shown that WC/TA, EBIT/TA, EBT/CL and S/TA independent variables partially and simultaneously together influencing shares price with random effect test .
